A number of other brokerages have also weighed in on SLRC. Wells Fargo & Co lifted their target price on shares of Solar Capital from $13.50 to $16.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Deutsche Bank cut their price objective on Solar Capital from $23.50 to $18.50 and set a “buy” rating on the stock in a research report on Monday, May 11th. Oppenheimer reiterated a “buy” rating and set a $19.00 target price on shares of Solar Capital in a report on Sunday, May 10th. JPMorgan Chase & Co. lowered their target price on Solar Capital from $21.50 to $17.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Finally, Compass Point upgraded Solar Capital from a “neutral” rating to a “buy” rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.42.
NASDAQ SLRC opened at $16.17 on Friday. The stock has a market cap of $683.34 million, a P/E ratio of 9.68 and a beta of 1.31. Solar Capital has a fifty-two week low of $7.42 and a fifty-two week high of $21.24. The stock has a 50 day simple moving average of $16.29 and a two-hundred day simple moving average of $16.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.09 and a current ratio of 1.09.
Solar Capital (NASDAQ:SLRC) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The business had revenue of $32.90 million for the quarter, compared to the consensus estimate of $37.43 million. Solar Capital had a negative net margin of 29.85% and a positive return on equity of 7.82%. Sell-side analysts predict that Solar Capital will post 1.43 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates purchased a new stake in shares of Solar Capital in the fourth quarter worth $422,000. Cubist Systematic Strategies LLC bought a new stake in Solar Capital during the 4th quarter valued at about $203,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Solar Capital by 105.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 36,785 shares of the financial services provider’s stock worth $760,000 after buying an additional 18,870 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Solar Capital in the fourth quarter worth approximately $343,000. Finally, Resource America Inc. grew its holdings in shares of Solar Capital by 79.3% during the first quarter. Resource America Inc. now owns 514,872 shares of the financial services provider’s stock valued at $5,993,000 after buying an additional 227,763 shares during the last quarter. 57.58% of the stock is owned by institutional investors.
Solar Capital Company Profile
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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